(NextDecade, 1.Jul.2024) — NextDecade Corporation’s subsidiary Rio Grande LNG, LLC issued $1.115bn of senior secured notes in a private placement. These senior secured notes will accrue interest at a fixed rate of 6.58%. Proceeds from the notes will be used to reduce outstanding borrowings and commitments under Rio Grande LNG’s existing term loan facilities for Phase 1 at the Rio Grande LNG Facility.
The senior secured notes will be amortized over a period of 18 years beginning in Sep. 2029, with a final maturity in Sep. 2047. The senior secured notes rank pari passu with Rio Grande LNG’s existing senior secured financings.
Including this transaction, the company has now refinanced a total of over $1.85bn of the original $11.1bn Rio Grande LNG term loan facilities since a positive final investment decision was reached on Phase 1 at the Rio Grande LNG Facility in July 2023.
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